Stock market news for today September 30, 2021


Stock market futures rise as House passes debt ceiling suspension bill

Futures contracts win in early morning trading Thursday. Part of this could be due to the recent bill passed in the US House of Representatives to suspend the US debt ceiling. Nonetheless, Senate Republicans are likely to vote against the bill. Meanwhile, investors are also eagerly awaiting weekly jobless claims data at 8:30 am ET today. Under current market conditions, should investors remain bullish?

Well, Paul Schatz, President of Heritage Capital, recently said: “But remember, all the reasons we’re going down – nothing is new… You have the debt ceiling and government shutdown and Evergrande and inflation. All things known. None of these are going to hit the bull market or cause a recession. There is always some sort of short term thing that the market is focusing on to get a pullback. We have it. I think this is the one you are buying with both hands over the next week or so, and I think we are going strongly to new highs in Q4.. At 6:35 am ET, the Dow, S&P 500 and Nasdaq futures are trading up 0.40%, 0.39% and 0.41% respectively.

[Read More] The best stocks to buy now? 4 renewable energy actions for your watchlist

Google search gets a facelift to increase user retention time

To start, Alphabet (NASDAQ: GOOGL) the Google affiliate makes the headlines stock Exchange now. He revealed many details at his annual Search On event yesterday. Namely, the main news around the company would now be its plans for Google search. According to Matt Madrigal, vice president of purchasing for Google merchants, the company is looking to add more consumer-centric tools. Essentially, this will give users more ways to make end-to-end purchases on Google.

Not to mention, Google is also revamping its search engine with a whole new artificial intelligence (AI) known as the Multitasking Unified Model, or MUM for short. According to company executives, MUM is 1,000 times more powerful than Google’s current search engine AI. By extracting data from the web, AI can supposedly tell users everything they need for a particular hike on Mount Fuji. This among many other nuances and details in the new AI would serve to improve the overall user experience.

In turn, this could lead to increased user retention as Google becomes a one-stop-shop internet search solution, eventually boosting its advertising activities. As Google seeks more comprehensive solutions to the world’s questions, it wouldn’t surprise me to see investors eyeing GOOGL stocks today.

[Read More] 4 semiconductor stocks to watch right now

IBM files for Kyndryl spin-off with SEC

In other tech-related news, the IBM Company (NYSE: IBM) is also making waves in the scholarship today. This is likely due to recent mentions of the alleged tax-free spinoff from his Kyndryl business. In short, Kyndryl is an IBM IT infrastructure company with approximately 90,000 employees.

the best tech stocks to watch (IBM stock)

Thanks to a filing with the Securities and Exchange Commission (SEC), the details of the tax-free spin-off are now known. Notably, according to the filing, IBM is seeking to complete the transfer by the end of 2021. Subsequently, Kyndryl will be listed on the New York Stock Exchange with the ticker symbol KD.

For the uninitiated, Kyndryl offers a wide range of IT infrastructure management services to organizations around the world. This includes, but is not limited to, its data and AI, cloud, mainframe, mainframe as a service, digital workplace, and cybersecurity solutions. Ideally, with current spin-off projects, Kyndryl’s dedicated team will be able to focus on innovation and expansions. Overall, this would give IBM more room to focus on its core cloud and AI capabilities while also addressing the burgeoning enterprise tech market.

Walgreens Eyes Health Care IT services firm Evolent Health

Elsewhere, the health giant Alliance of Walgreens boots (NASDAQ: WBA) also makes daring games. Yesterday, the news of the company’s interest in the acquisition Evolutionary health (NYSE: EVH). In short, Evolent is an IT services company that primarily operates in the healthcare industry. This includes care management and administrative simplification solutions, among others.

WBA stock chart

Through its services, the company is said to have saved Medicare more than $ 21 million in 2020 by helping to optimize its operations. Given all of this, it’s no wonder that EVH’s stock is now in the limelight. In fact, EVH stock has jumped over 7% throughout yesterday’s intraday trading session.

Overall, if Walgreens decided to go ahead with this plan, it could be a strategic decision. It would, as the acquisition of Evolent would give Walgreens a stronger grip on the growing healthcare IT space. As in most industries around the world, IT services are becoming more and more relevant today. Additionally, the potential acquisition could also benefit Walgreens’ growing online pharmacy business, given Evolent’s IT expertise. Because of all of this, WBA stocks could be the center of attention in the stock market now.

[Read More] What stocks to buy today? 5 tech stocks to watch

Target is bringing out the big guns this holiday season

Target (NYSE: TGT) is now preparing for the holiday season. This is evident given Target’s latest announcement regarding its vacation sales. From October 10 to December 24, buyers can request price adjustments on items purchased from Target. This will be in the event that the prices drop later in the season due to various promotions or offers. According to Target, the company plans to match the selected prices of competitors within 14 days of a customer’s purchase.

best retail stocks to buy now (TGT stock)

Overall, that would look like a push from most of the biggest names in the retail space right now. If anything, some will say it is a necessity. In a certain context, a recent study by Selling power (NYSE: CRM) suggests that consumer prices could increase by up to 20% this holiday season.

Based on data from more than a billion shoppers around the world, the company estimates that this could add up to $ 223 billion in additional costs to retailers and manufacturers. Due to the ongoing pandemic putting pressure on global supply chains, that would make sense. With Target shifting into high gear in anticipation of all of this, we could see some exciting times for the TGT stock.

[Read More] 3 best actions to watch out for after updating the SAFE Banking Act

Profits to note in the stock market today

In addition to all of this, there are also some notable names that are reporting profits today. In the pre-market, we have several names of retailers for sale. This includes the likes of CarMax (NYSE: KMX), Bed bath and beyond (NYSE: BBBY), and McCormick & Company (NYSE: MKC). In addition, there are also companies like Paychex (NASDAQ: PAYX) and AngioDynamics (NASDAQ: ANGO) before the opening bell as well.

Alternately, Jefferies (NYSE: JEF) is expected to release its third quarter results after the closing bell today. Overall, things are more active in the market than ever before, with companies taking action. That said, there is certainly plenty of news to keep you busy on the stock market today.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Leave A Reply

Your email address will not be published.